Radnor Re to issue $557.7 million in ABS secured by mortgage insurance
Radnor Re will pay interest on the notes out of proceeds on coverage premiums on private mortgage insurance contracts for residential mortgage loans.
PMI
Mortgage insurers’ delinquent inventory shrinking faster than expected
Meanwhile, National MI has been increasing its new insurance written by slightly widening its credit standards.
Mortgage insurers log fewer delinquencies but pace slows at legacies
Meanwhile at Essent, more loans exited the inventory in January than in December.
Foreclosure wave unlikely in 2021, BTIG says
The company expects a good year ahead for mortgage insurers, assuming that rising employment, higher home prices and payment timing deferrals will help them to mitigate risk.
Mortgage insurers will feel the pinch from long forbearance timelines
Lower cure rates and possible rises in foreclosures and claims could force these companies to raise capital next year, Fitch Ratings said.
Arch prices $432M PMI-linked notes offering
Arch's second CRT transaction this year to obtain indemnity reinsurance for mortgage-insurance premiums comes at a time it is also experiencing rising 60-plus-day delinquencies on its outstanding securitized pools.
By
Glen Fest
Arch MI does its first insurance-linked noted deal of 2020
The mortgage insurer is receiving $528 million of coverage in the event of defaults in a $44 billion loan pool.
KBW downgrades mortgage insurers, cites possible capital needs in 2021
If delinquency rates rise, all four stand-alone firms would have a capital shortfall.
5 questions for Radian’s CEO on preparing for an onslaught of defaults
Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.
Stand-alone MIs have strong 1Q, but coronavirus makes the future murky
Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.
Mortgage insurers should weather defaults from the coronavirus: KBW
The impending wave of loan delinquencies because of the coronavirus hurt private mortgage insurer earnings, but the companies will still have sufficient capital, a Keefe, Bruyette & Woods report said.
Opinion No, the FHA should not be pushed to the brink again
Now is not the time for the government to cut Federal Housing Administration premiums and enter new segments of the housing market.
Risk management shift among mortgage insurers could accelerate: USMI
An increase in credit risk transfer activity since 2015 signifies a sea change for private mortgage insurers that may be about to intensify, according to an industry trade group.
Mortgage servicing rights hit results in 2Q loss at Mr. Cooper
Mr. Cooper Group reported a second-quarter net loss of $87 million as the company took a $231 million fair value hit to its mortgage servicing rights portfolio.
No relief yet for lenders where False Claims enforcement is concerned
Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.
Arch’s next credit risk transfer deal has lower attachment point
The residential mortgages being reinsured are less risky, by several measures, than its previous deal; none of the borrowers have ever missed a payment.
Radian offloads less risk in next capital markets reinsurance deal
This time, investors required Radian to hold on to the first 2.5% of losses it covers on the pool; by comparison, the insurer’s previous deal, Eagle Re 2018-1, had a lower “attachment” point of 2.25%.
Arch, Essent go head-to-head with credit risk transfer deals
Arch Capital’s next offering of credit risk transfer notes features heavy exposure to residential mortgages that have been modified by Fannie Mae or Freddie Mac.
SFIG Vegas: CRT could be used to adjust PMI premiums, g-fees
Credit risk transfer does more than just reduce exposure to a downturn in the housing market. It also provides them with information about how others view mortgage credit risk.
What Calabria at FHFA would mean for GSE reform
The administration’s reported interest in having the White House aide run Fannie Mae and Freddie Mac's regulator signals a focus on constraining the mortgage giants’ role in the housing market.
Load More
Couldn’t load more articles. Try again.